According to Forbes, Visionary Realms secured a multimillion-dollar funding round earlier this month to accelerate development of their flagship MMORPG Pantheon: Rise of the Fallen. The funding came from an undisclosed group of investors who CEO Chris Rowan said “really believed in us as a creative and technical team.” The game, which entered early access on Steam in December 2024, remains unfinished despite years of development. This new capital will fund additional artists, programmers, and designers to help push the game toward a full 1.0 launch state. Pantheon has been in development for over a decade and is considered the spiritual successor to EverQuest, originally spearheaded by Brad McQuaid before his passing in 2019.
The MMO Funding Gamble
Here’s the thing about MMO funding – it’s basically the highest-stakes gamble in gaming. We’re talking about development cycles that can stretch beyond a decade, server infrastructure that needs to handle thousands of players simultaneously, and content pipelines that never really end. And yet investors keep throwing money at these projects. Why? Because when an MMO hits, it becomes a revenue-generating machine for years. But the graveyard of failed MMOs is massive. Remember how Brad McQuaid’s vision originally captured people’s imagination? That nostalgia factor is powerful, but it doesn’t pay the server bills.
The EverQuest Legacy Problem
Pantheon’s entire identity is wrapped up in being EverQuest’s spiritual successor. That’s both its biggest strength and its most dangerous trap. On one hand, you’ve got a built-in audience of older MMO players who are tired of modern, theme-park style games. They want that old-school challenge, the need for actual party coordination, the danger of losing progress. But here’s the million-dollar question – is that audience large enough to sustain a modern MMO? The gaming landscape has changed dramatically since EverQuest’s heyday. Most players today expect quality-of-life features and accessibility that classic MMOs deliberately avoided. Visionary Realms is trying to thread a very narrow needle here.
Early Access Reality Check
Let’s be real – launching into Steam Early Access in December was a risky move. It gives players access to an unfinished product, which can either build community goodwill or destroy reputation permanently. The mixed reviews on Steam tell the story – some players love the classic feel, while others complain about missing features and performance issues. This new funding might be exactly what they need to address those concerns, but the clock is ticking. First impressions matter, and in the crowded MMO space, you don’t get many second chances.
What Success Looks Like Now
So what does “success” even mean for Pantheon at this point? They’re not trying to compete with World of Warcraft or Final Fantasy XIV anymore. The realistic goal is finding a sustainable niche – enough dedicated players to keep the servers running and content flowing. This funding suggests their investors believe that niche exists. According to the official press release, the money will help launch the game “sooner with a more complete offering.” That’s corporate speak for “we need to actually finish this thing.” The fact that they’re still attracting multimillion-dollar investments after all these years is either incredibly promising or deeply concerning – I can’t quite decide which.
